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Thought Leadership

Insights from Tocqueville

2021 Macroeconomic Outlook: Navigating Through the Fog

2021 Macroeconomic Outlook: Navigating Through the Fog

By Robert Kleinschmidt on January 29, 2021

Executive Summary: We should all hope 2020 was an anomaly with respect to market volatility but at the same time it represents a testament to the strength of our political institutions as well as to the creativity and ingenuity of our scientists and private sector. Considering all that occurred during the year from the pandemic …

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Understanding the Importance of a Donor Advised Fund for your Estate Planning Goals

Understanding the Importance of a Donor Advised Fund for your Estate Planning Goals

By Michael Meltzer on November 30, 2020

The end of the year is quickly approaching, and what has turned out to be a year riddled with pain, suffering, sacrifice, and division, has also been filled with acts of extreme kindness, generosity, altruism, and love. In a typical year, many consider their charitable intentions during the months of November and December to coincide …

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Nightmare on Wall St.: A Tech Bubble Redux?

Nightmare on Wall St.: A Tech Bubble Redux?

By Paul Kleinschmidt on October 22, 2020

The notion of “two Americas” is often discussed by media outlets, particularly in an election year. Meanwhile, Wall Street’s attendant media, usually prone to hyperbole, has largely ignored the extraordinary tale of two markets for stocks. Instead, the focus has principally been on the dramatic rebound in the major indexes since the March lows. Peer …

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Diversify, Rebalance, Rinse, Repeat

Diversify, Rebalance, Rinse, Repeat

By John Petrides on September 2, 2020

Since the future is unknown, diversification remains the hallmark to capital preservation in our estimation. There may be short periods of time where seemingly different asset classes move in the same direction, but over time, reducing correlation among assets within a portfolio is crucial to protecting your generational wealth.

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Chairman’s Letter 2Q20

Chairman’s Letter 2Q20

By Robert Kleinschmidt on July 28, 2020

Dear Fellow Investors, Unprecedented is a word that gets tossed around so frequently these days that it is, well, unprecedented. More often than not, the word is misused to mean something other than, or in addition to, “without precedent.” Rather, it gets used to mean “a really big deal” or “exceedingly rare” or, more likely, …

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